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SWISS FRANC / CANADIAN DOLLAR

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CHFCAD trade ideas

CADCHF short idea CAD/CHF currency pair is exhibiting significant bearish potential, driven by anticipated actions from the Bank of Canada (BOC) and the overall bearish trend of the US dollar, which indirectly impacts the Canadian dollar. Fundamental Analysis : Bank of Canada's Monetary Policy: The BOC is widely expected to lower interest rates in the near future. A rate cut would weaken the Canadian dollar as investors seek higher yields in other currencies. The dovish stance of the BOC is a key bearish factor for the CAD/CHF pair. US Dollar's Bearish Outlook: The overall bearish sentiment towards the US dollar also indirectly impacts the Canadian dollar due to the close economic ties between the US and Canada. As the US dollar weakens, it often leads to a spillover effect, dragging down the Canadian dollar further against other currencies, including the Swiss franc. Technical Analysis : Technically, the CAD/CHF pair has recently shown signs of downward pressure, breaking below key support levels. Momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a continuation of the bearish trend, reinforcing the downside potential. Conclusion : Given the Bank of Canada's likely rate cuts and the overall bearish trend of the US dollar, the CAD/CHF pair is poised for further depreciation. Traders should consider this an opportune moment to explore short positions, anticipating continued weakness in the Canadian dollar against the Swiss franc.
Short
by Metow1sw
CADCHF My Opinion! SELL! My dear followers, I analysed this chart on CADCHF and concluded the following: The market is trading on 0.6700 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 0.6664 Safe Stop Loss - 0.6723 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
CADCHF → Realization phase. Growth after breakthroughOANDA:CADCHF may continue its growth after confirmation of bulls' intentions. CHF is weakening faster than CAD, which in general will favorably affect the currency pair. We expect the growth to 0.68 The price is breaking the global resistance, as well as moving the consolidation pattern into the realization phase. Consolidation of the price above the previously broken trend boundary will be a great sign that the currency pair is ready to go higher. Fundamentally, the situation is relatively stable, which is generally positive for us. Ahead of resistance 0.6722, the level can be broken after a quick retest. The formation of a bullish impulse is possible. Resistance levels: 0.6722 Support levels: 0.6694, 0.6655 Technically and fundamentally conditions are favorable. We are waiting for confirmation of the signal with the purpose of further growth to the previously mentioned targets. Regards R. Linda!
Long
by RLinda
2
CADCHF BACK ON RESISTANCE, POSSIBLE TRIPLE TOP PATTERNCAD/CHF has once again approached the major resistance level identified on both the hourly and daily timeframes. This level has repeatedly faced selling pressure, causing the price to reverse downward multiple times. Given the price's consistent respect for this level as a major sell zone, another potential sell-off could be imminent. Additionally, the most recent hourly candle closed with a bearish bias before the market closed.
Short
by traderchamp_
5
CAD/CHF: Bearish Harmonic Pattern at Key Resistance LevelThe CAD/CHF currency pair is presenting a compelling shorting opportunity based on a confluence of technical factors. A Bearish Harmonic Pattern is currently unfolding, with Point D, also known as the Potential Reversal Zone (PRZ), situated at a critical resistance level. This strengthens the bearish case as price tends to find rejection at these confluence zones. Harmonic Pattern and Resistance: The specific Bearish Harmonic Pattern in development is not explicitly mentioned, but the key takeaway is the presence of Point D at a resistance area. This area has previously acted as a barrier to price advancement, and a retest often leads to a reversal. The confluence of the pattern completion and resistance adds significant weight to the bearish bias. Bearish RSI Divergence: Further bolstering the bearish case is the presence of Bearish RSI Divergence on both the 1-hour and 4-hour timeframes. RSI divergence occurs when price makes a new high (or low) but the RSI indicator fails to confirm the move, printing a lower high (or higher low). This divergence suggests a weakening bullish momentum, potentially leading to a price reversal. Trendline Support Turned Resistance: Adding another layer of confirmation is the fact that Point D coincides with the 4-hour trendline. This trendline, which was previously acting as support, has likely been broken and is now functioning as resistance. This reinforces the notion of a bearish shift in momentum. Entry, Stop Loss, and Take Profit Levels: Based on the confluence of technical indicators, a short trade is recommended with the following parameters: Entry: 0.66710 Stop Loss: 0.67025 (placed slightly above the broken trendline resistance) Take Profit Levels: TP-1: 0.66395 TP-2: 0.66080 TP-3: 0.65765 (These profit targets are strategically placed at key technical levels or at a predetermined risk/reward ratio) Risk Management: It's crucial to employ proper risk management techniques for this trade. The stop loss should be placed above the broken trendline resistance to account for potential retracements. The take profit levels offer a favorable risk-reward ratio, allowing for potential profit even with a conservative approach. Conclusion: The CAD/CHF presents a strong shorting opportunity based on a Bearish Harmonic Pattern, Bearish RSI Divergence, and a broken trendline acting as resistance. The confluence of these factors suggests a high probability of a bearish reversal. However, as with all trading strategies, proper risk management is essential.
Short
by trading_jupiter